The Department of Trade and Industry (DTI) is set to roll out a new loan initiative tailored for micro entrepreneurs, offering accessible financing through popular e-wallet platforms. This innovative program, launched in partnership with the Development Bank of the Philippines (DBP), aims to provide convenient, digital-based financial assistance to small business owners, including sari-sari store operators and market vendors.
Easy Access to Capital Through E-Wallets
Speaking at the Asia SME Forum in Pasay, Trade Secretary Cristina Aldeguer-Roque revealed that an initial fund of P500 million has been allocated for this initiative. The formal launch is expected to take place either in March or early April.
“This partnership between DTI and DBP will allow micro entrepreneurs to access loans directly through digital payment platforms like GCash and PayMaya. This means small business owners—especially those managing sari-sari stores and market stalls—can apply for financing without the need to visit a bank or financial institution,” Roque explained.
Bridging the Financial Gap for Small Businesses
While DTI already offers various loan programs, this new initiative specifically targets micro entrepreneurs who often struggle with limited financing options. Many of these business owners manage their operations single-handedly, making it difficult for them to seek loans through traditional banking channels.
“For instance, many market vendors handle both sales and management duties at their stalls. We want to simplify the loan process and create diverse financing options for these micro, small, and medium enterprises (MSMEs),” Roque added.
More details regarding the program will be disclosed during its official launch in the coming weeks.
Industry Leaders Welcome Additional Financing Options
The initiative has been well-received by business advisors and industry leaders, emphasizing the critical role of funding in business sustainability.
“A major challenge for small businesses and startups is the lack of access to sufficient capital. Without adequate funding, businesses face a short runway and intense pressure to achieve immediate success,” noted Aldie Garcia, Managing Partner at PWC and a mentor under DTI and Go Negosyo.
Garcia further stressed the importance of government and private sector collaboration in supporting entrepreneurs beyond financial assistance. He highlighted the need for training and mentorship programs to help startups scale effectively.
“The goal is to elevate small businesses to medium-sized enterprises and, eventually, into large-scale operations. This will have a significant multiplier effect on job creation and economic growth, strengthening our nation’s resilience,” Garcia explained.
Entrepreneurial Success Stories Inspire New Business Owners
Encouraging aspiring entrepreneurs to tap into available government and private sector support, forum speaker Joey Marcelo, CEO of Sante International, shared his journey in business.
“Before establishing Sante International in 2007, I experienced five business failures. But setbacks are part of the process—what’s important is to keep pushing forward,” Marcelo said.
Today, Sante International operates in over 10 countries, including the U.S. and Indonesia, and has its own manufacturing facility in New Zealand. Marcelo’s story highlights the importance of resilience, learning from failures, and utilizing available resources to achieve success in business.
Conclusion
The upcoming DTI-DBP digital loan program represents a major step in financial inclusivity for micro entrepreneurs. By leveraging digital platforms, this initiative aims to streamline access to capital, empower small business owners, and contribute to long-term economic growth. Entrepreneurs are encouraged to stay updated on the program’s launch and take advantage of the opportunities it presents.
